From Thestatedtruth · · 1m 20s
Wealth Moving to Sun Belt States
Sun Belt states gain billions as wealth shifts from expensive coastal areas.
In brief
Sun Belt states gain billions as wealth shifts from expensive coastal areas. Florida gained $137 billion in net income from interstate moves in 2023, while California lost $12 billion. Originally reported by Thestatedtruth.
Wealth Migration Map
Americans are moving with billions in wealth, shifting from expensive coastal states to Sun Belt regions.
“California wins this lotery!”
Florida's Wealth Inflow
Florida gained $137 billion in net income from interstate moves between 2019 and 2023.
Florida's High-Income Residents
Florida's incoming residents had an average annual income of $122,530.
Texas and Sun Belt Gains
Texas gained $6 billion, while North Carolina and South Carolina each gained $4 billion.
Arizona and Tennessee Gains
Arizona and Tennessee each brought in $3 billion through new residents.
California's Wealth Outflow
California lost $12 billion in wealth in 2023 alone, the largest outflow of any state.
New York and Other Outflows
New York experienced $10 billion in net outflows, while Illinois and Massachusetts saw sharp declines.
Wealth Migration Trends
Wealth migration shows a shift toward lower-cost, high-growth states with stronger population growth.
Future Economic Impact
Continued wealth shifts could reshape state economies, concentrating tax revenue and housing demand in Sun Belt regions.
The one thing
Florida gained $137 billion in net income from interstate moves in 2023, while California lost $12 billion.
